Fill-or-Kill Order Law and Legal Definition
This is an order which is required to be executed immediately as and when it reaches the trading floor. If the order is not filled immediately, it gets canceled or killed. This type of order is usually for a large quantity of stock. Examples of fill-or-kill order include market and limit orders requiring immediate execution. This kind of trade occurs very rarely. This is an order in which investors have a short period of time to partially or completely fulfill the order before it is cancelled.